California Affordable Housing Update

Looking for answers to questions about the future of affordable housing in the radically changed economic climate? While California's housing became less expensive during the Great Recession, affordable housing became much more difficult to build during that time. As investor demand for low income housing tax credits dropped, new strategies needed to be developed to finance affordable projects. Other sources of affordable housing also experienced setbacks, as the Palmer and Patterson cases constricted local government's ability to require construction of affordable housing through inclusionary housing ordinances. Massive amounts of redevelopment housing funds, a critical source of local funding for affordable housing, were diverted to solve the state budget crisis, and critics charged that much of the remaining funds were not being spent properly. As the state recovers from the recession, major changes are unfolding in the affordable housing industry. Listen to an affordable housing developer, economist and attorney describe the changes that have occurred, and how they will affect the creation of affordable housing in California.